Bookmakers say Leicester City is more likely to be relegated next year than to win the league again

Britain's biggest betting companies are far more optimistic about
Leicester City FC's chances next season than they were last year,
following the club's shock Premier League win that cost bookmakers
millions.

But there are signs they also suspect that success was a one-off.

Bookmakers gave Leicester City odds of 5000/1 at the beginning of
the 2015/16 season, meaning anyone who bet £20 on the club
winning the league collected a £100,000 return on Sunday.

Now Ladbrokes has slashed the team's odds of retaining
the title from 33/1 to 25/1 as a flurry of
customers have bet on the club doing it twice in a row.

However it has also placed 20/1 odds on
Leicester being relegated, suggesting that many think the team's
success was a fluke.

Meanwhile a Champions League seems within the realm of
possibility, with odds of 80/1 — still far lower
than their previous Premier League odds.

Rival William Hill is even more bullish, with odds
of 66/1 for a Champions League win — down from
100/1 since their title win. Like Ladbrokes, William Hill pegs a
Premier League win at 25/1, but it also thinks
relegation is even more possible at 16/1.

Paddy Power is less concerned by a Leicester
City Premiership repeat, with odds currently at
33/1, and odds of 14/1 for
relegation.

Alex Donohue of Ladbrokes told Business Insider that punters
didn't want to be surprised again:

"Those who missed the 5000/1 boat are already steaming into
Leicester at far shorter odds, confident they can kick on and
become a force in English football for years to come. We
should whisper it, but we're actually offering shorter odds about
them being relegated next season than them retaining their
title."

Paddy Power, meanwhile, said Leicester's win had already altered
the way people were betting for next season.

"It has completely changed our customers’ behaviour in that
they’re backing the underdogs like never before," a
representative said.

"Burnley, who were promoted only last week, have already been
backed by over 60 customers. Previously these sides would only
have received a handful of bets all season."